Income Tax

Notice 2023-63 includes interim rules on the capitalization and amortization of specified research or experimental expenditures.

To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

A judge has ruled that Intuit Inc., the maker of the popular TurboTax tax filing software, “engaged in deceptive advertising in violation of Section 5 of the FTC Act” and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible.

The agency is opening examinations of 75 of the largest partnerships in the U.S. that on average have over $10 billion in assets.

The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.

New IRS guidance marked the second time this year the agency raised the specter of subjecting state refunds to federal income tax.

Is the sale of an NFT subject to tax? Should it be? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult.

Compliance Tracker ensures accurate and timely tax filings, reducing risk of non-compliance and penalties by incorporating trusted data compiled and maintained by Bloomberg Tax’s in-house tax analysts.